Addleshaw Goddard will provide £500,000 in free legal advice to support UK fintech companies.
It is the latest in a series of similar moves by law firms to attract young fintech businesses as clients.
Simmons & Simmons launched a similar programme in May, offering a pot of £100,000 to four fintech start-ups, while Slaughter and May launched its ‘Fintech Fast Forward’ fund to give £30,000-worth of legal support to a number of businesses.
Addleshaws’ programme is called AG Elevate and will provide 16 fintech companies access to free legal advice. The successful companies will also be assigned a mentor from Addleshaws’ fintech practice.
Elevate will launch on 17 November and is split into two programmes designed to target different levels of the market. The first programme will target start-up companies with less than £1m of investments while the second will target those with ‘series A’ funding of over £1m.
Addleshaws head of fintech Fiona Ghosh said: “Fintech companies often come to market quickly and need nimble advisers they can work collaboratively with, who are responsive, as well as people they can talk to, who can offer guidance and support, rather than just providers of hard edged legal advice.”
Last month Simmons’ revealed the four businesses that have gained access to its fund. They are analytics company Alterest, mobile insurer Cuvva, compliance platform Railsbank, and invoicing software company Tallysticks.
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